I have an old 2001 Schwinn Homegrown Pro that I want to upgrade to a 10-speed drivetrain. I'd like to do it myself as a learning exercise, but I'm not sure what kind of tool I need to remove the old bottom bracket (or to install the new one, for that matter). The crank is a Deore XT Hollowtech FC-M751, but I am not sure what the bottom bracket is. The original specs of the bike are at this page

For this kind of thing your best resource is usually the Park Tools web site. They have guides for most bike maintenance procedures, including details on what tools you need for what brands, etc.
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Daniel R HicksNov 29 '13 at 21:30

You could also buy any one of a number of bicycle repair manuals (Zinn and Park Tools are two of my favorites.)
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WTHarperNov 30 '13 at 14:53

This is likely to require a lot of effort to free up after 12 years so I'd recommend a repair stand.

For fitting a new 10 speed crankset (at Deore, SLX, XT etc level) it's likely you'll need to move to a threaded external bearing BB such as Shimano BB70 which will probably come with the crank set you purchase. This requires:

External bottom bearing tool like this to install the bottom bracket and no other tools.

I was on the Park Tools site so used their tools as examples, many brands make similar tools. They also have a good reference section to learn how to work on a bike here.

Personally I would recommend trying to borrow the tools to remove the BB from your LBS rather than purchasing new as the standard for mountain bikes has changed to (many different) external bearings systems. It may end up you purchase them for this job and never use again....

Or join a bike co-op if you have one in your area.
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BatmanNov 29 '13 at 22:00

I would just turn the bike up-down for this procedure (no need of a repair stand). It gives you pretty nice access to serve BB.
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AlexanderDec 1 '13 at 5:23

I think you'll struggle with getting leverage to undo a BB that's been in place for 12 years outside of a stand. The plastic cup will be easy but the cartridge may well be fused.
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DWGKNZDec 1 '13 at 7:05

In my experience, a really fast BB is best removed with a long lever while the bike is standing on its wheels. This way, you could even consider using you bodyweight for leverage.
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arneDec 3 '13 at 9:26